LeapFrog spends $25mln for minority stake in AFB

Specialist financial services private equity investor LeapFrog Investments is investing $25 million to take a minority stake in financial technology company AFB Mauritius, who promote their services to consumers under the “afb” brand. Precise terms of the deal have not been disclosed. The deal represents LeapFrog’s fourth investment from its $400 million Fund II, which closed in the last quarter of 2014.